The Economic Institutions of Artificial Intelligence
https://dx.doi.org/10.2139/ssrn.4456471
"#AI can help overcome the #BoundedRationality problem by processing large amounts of data, finding patterns and insights, and making predictions and recommendations. This insight raises the question: can AI overcome planning problems – could it be that #CentralPlanning is now a viable option?" — No.

#economics #InformationProblem #Hayek

We all know that central planning doesn't work. We also know that unregulated markets don't work.

Our discourse would be so much more intelligent if we just dropped dysfunctional terminology like capitalism, socialism, etc.

#centralplanning #unregulated #markets #discourse #intelligent #drop #dysfunctional #terminology #capitalism #socialism

We all know that central planning doesn't work. We also know that unregulated markets don't work.

Our discourse would be so much more intelligent if we just dropped dysfunctional terminology like capitalism, socialism, etc.

#centralplanning #unregulated #markets #discourse #intelligent #drop #dysfunctional #terminology #capitalism #socialism

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees - This week, 2,600 tech industry moguls and entrepreneurs, including Elon Musk, Gary... - https://news.bitcoin.com/tech-industry-leaders-call-for-ai-labs-to-pause-development-for-safety-coinbase-ceo-disagrees/ #artificialintelligence #politicaldisruptions #economicdisruptions #out-of-controlrace #powerfulaisystems #self-preservation #centralplanning #manageablerisks #positiveeffects #controversy

Here, todays offering involves a real blast from the past:#CentralPlanning #USSR

#Russia #UkraineWar https://nadinbrzezinski.medium.com/the-return-of-central-planning-be4d94a4ccc2

@mbauman It could be manifestation of "immunity debt".

All these measures - #covid #lockdowns, over-using hand sanitizers, reduced travel - all contributed to reduced exposure to the viruses and bacteria we had regularly.

So yet again, another example how good intentions by #Govenrment #Regulation / #CentralPlanning results in unattended consequences.

Wanted to help the weakest, but in the result it harms EVERYONE, and also in various ways (like #inflation, etc).

https://nationalpost.com/news/canada/immunity-debt-covid-19-cold-flu-rsv

@FranckLeroy @bitcoinmagazine

> I like states

I hate #authoritarianism

> taxes

extortion

> redistribution

theft

> and broad social systems

Highly inefficient #CentralPlanning, where you pay ~50% of income for "#HealthCare" and wait in queues for years to access specialists and finally just get suggestion to euthanize (#Canada reference)?

> which is a real threat to our societies.

Biggest thread of human flourishing is authotarianism, tyranny of Soviet Union, North Korea, China, etc.

We should set to bed forever the idea that capitalism is efficient and isn’t centrally planned as we watch Mark Zuckerberg waste $36 billion on Meta, costing his company nearly a trillion dollars in valuation, and no one can stop him from wasting another $36 billion.

#capitalism #anticapitalism #capitalistrealism #centralplanning

We're suddenly realising the irony of a self-declared libertarian trying to do central planning with a single funnel for everyone, as opposed to a nice, decentralised, 'everyone can find their own voice' kind of place here on #mastodon #libertarian #centralplanning #nopileons #noquaotetweets